Position Sizing

Book Excerpt - Layered Position Sizing

While a lot of popular texts in position sizing and trade management say, don't ever add to a loosing position, I realize that like everything else in life, there is some more nuance and context to it.As I delve deeper, read and listen to more professionals, I am getting contradictory views on that.

There seems to be some merit in scaling-in (averaging down) and scaling-out of positions. I am reading this (http://www.amazon.in/Prop-Traders-Chronicles-Short-Term-Proprietary/dp/1118241088) book currently and found this interesting excerpt.